Insurance Coverage Reviews
By taking a closer look at the mission and programs of a nonprofit, reviewing recent claims and losses, and by conducting a thorough review of active property and casualty insurance policies, the Center’s staff identifies specific improvements designed to strengthen the insured’s insurance program. Our coverage reviews often identify errors, gaps and inadequacies in a nonprofit’s current coverage. Most organizations seeking an insurance coverage review also request a risk assessment. To expedite the process, we require that the organization provide an insurance program summary containing the following information for each policy currently in place:
- Policy Name (e.g. General liability)
- Coverage Trigger (claims made or occurrence)
- Expiration Dates
- Annual Premium
BBYO's engagement of the Center to conduct a risk assessment was one of the most valuable processes undertaken over the past five years. Numerous programmatic and procedural changes were recommended and have since been implemented. Additionally, dozens (literally) of coverage gaps were identified that would never have been without the work of the Center. This assessment led to a broker bidding process that resulted in BBYO's selection of a new broker that we have been extremely satisfied with over the past two years. I unconditionally recommend the Center for their consultative services.
Sidney Abrams, Director of Administration, B'nai B'rith Youth Organization
The insurance program summary and any specific requirements with regard to the timing of the assignment should be sent to Melanie Herman. We will respond with a proposal stating scope of work and cost.